Freddy Shepherd has unveiled plans to breathe new life into the banks of the River Tyne

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A BID to breathe new life into the banks of the River Tyne was unveiled today as millions of pounds are ploughed into developing its historic shipyards.

Designs have been officially submitted to council planning chiefs in an effort to put up a 30,000 sqft factory on a section of the 92-acre Neptune Yard in Walker, Newcastle.

And officials from marine giants Shepherd Offshore also unveiled plans to build a second factory, at 55,000 sqft.

More than £20m is being invested in the projects and it is anticipated the buildings will create hundreds of jobs.

Talks are under way with five major players interested in lucrative contracts to take control of the factories once they are completed.

Former Toon chairman Freddy Shepherd said a large Italian company, who would employ local people at the site, have expressed an interest.

The 70-year-old, who owns Shepherd Offshore, said: “There are five companies who are inquiring about taking up a lease at the factories.

“This area has a proud heritage for shipbuilding and we are breathing new life into the site and creating jobs.”

It is expected building the site could create as many as 100 jobs with many more in the pipeline. A swathe of the historic shipbuilding yards are undergoing huge transformation as millions of pounds are pumped into a series of projects.

Three former dry docks, where some of the world’s greatest ships were built, have already been filled in.

It means a huge area can be used as a construction space for the Neptune Empire Park.

The Shepherds clinched a contract for the fourth dry dock to be used by a concrete fabricating company.

It is the first time the site will be used since the production of the new Tyne Tunnel.

Mr Shepherd said: “The dry dock has been commissioned and it is important to bring work into the area.

“The company is using the site to build concrete structures on Humberside and we are excited to have them here.

“We are bringing the old dry dock back to life after it was used to make the most recent Tyne Tunnel.” Today Newcastle East MP Nick Brown paid tribute to the vision of the plans and welcomed the return of heavy industry back to Tyneside.

He said: “It’s really exciting and I support the application.

“This will create jobs in Newcastle and cement the Neptune Yard’s reputation for a growing centre for employment.

“I welcome the vision of Shepherd Offshore for seeing the potential in re-establishing heavy industry.”

The proposed factories are the latest stage in Shepherd Offshore’s ambition to turn Tyneside into a world leader in the renewable energy sector.

The company has completed a 43,000 sqft building for Clipper to manufacture wind turbine blades for use offshore.

North Tyneside Council announced it is offering a developer a stake worth up to £50m in its plans to bring more than 1,000 new jobs to the region with a world-class renewable energies centre.